US Bank Completes First Cross-Border Payment Using USBDC Stablecoin
US Bank has successfully completed its first live cross-border payment using the USBDC stablecoin on the Stellar blockchain. The pilot, which took place between US Bank's North American and European banking entities, demonstrates the bank's continued commitment to exploring blockchain-based payment systems.
The transaction involved integrating the blockchain payment with US Bank's finance, risk, compliance, and operations systems, enabling the transfer of funds on-chain while maintaining the same level of banking controls. The pilot also covered minting and redemption on the digital asset platform, as well as freezing and clawback capabilities for the USBDC stablecoin.
While this achievement marks a significant milestone in US Bank's testing of blockchain-based payment systems, it does not confirm a wider public rollout of USBDC. The bank has not announced broad customer access or a commercial launch date for the stablecoin.